JZZ Technologies plans to leverage the development capabilities of LION Development Group as it creates a new integrated real estate and housing development division focusing on markets in high mobility, "destination states".
Anderson, South Carolina--(Newsfile Corp. - October 3, 2022) - JZZ Technologies Inc.'s, ("JZZ" or the "Company") (OTC Pink: JZZI), has acquired LION Development Group LLC ("LION") of South Carolina as a first step toward building its new Active Lifestyle Development division, which will focus on acquiring and developing real estate and development projects, both residential and commercial.
Based in South Carolina, LION Development Group and its founders have over 30 years of combined experience in the acquisition, development, and management of residential and commercial properties in South Carolina, North Carolina, Florida, and Georgia. LION has successfully completed dozens of real estate projects in these regions over the past three decades and holds a reputation for excellence in the communities that it serves.
Through this new acquisition and other opportunities, JZZ and LION will engage in acquiring, developing, managing, marketing, and selling properties to people who are migrating from high regulation, high tax, and high crime states in favor of the destination sunbelt states. These states include Texas, South Carolina, North Carolina, Florida, and Georgia, and are rated as the top five destination states for highly mobile movers according to Forbes. In addition, these areas continue to have and are predicted to support strong housing and rental markets over the next five years as migration increases.
Many of the individuals who are seeking to relocate into new destination areas fall into JZZ's Active Lifestyle Media digital database that now numbers over 100 million records. The Company plans to use its full digital marketing suite and apply its capabilities to marketing for real estate and housing ventures, including those with LION. JZZ has already identified several medium-to-large scale opportunities, and through this acquisition will be able to fully develop and market properties.
Thomas Hays, LION Development LLC president states, "This combination with JZZ will allow us to accelerate our growth and gain access to the robust senior market who are the bulk of the buyers, investors, and renters in our target areas."
Charles Cardona, CEO and Chairman of JZZ Technologies, Inc. states, "The addition of Thomas Hayes and his team of development professionals to JZZ allows us to jump right into the real estate development sector with a legacy of excellence and a knowledgeable management team. We anticipate significant revenue growth through the projects that LION is bringing to the table. This acquisition opens the multibillion-dollar marketplace to our millions of subscribers."
"The South Carolina housing market alone is expected to grow by 10% over the next year, with the rental rates up more than 50%", Cardona adds. "This is exactly the kind of area where we can capitalize on the upside almost immediately with the potential to deliver above average shareholder value."
About JZZ Technologies, Inc.
JZZ Technologies, Inc. is a diversified company engaged in several business sectors. Its Active Lifestyle Digital media business includes online media and apps (activelifestylemedia.com), content creation, and digital marketing, targeted to active adults 55+. Its strategic biotechnology and bioscience related to Human Life Extension seeks opportunities in quality-of-life businesses that support the aging population, and its Active Lifestyle Development division acquires, manages, and operates commercial and residential real estate and housing development projects. For more information, please visit www.jzztechnologies.com.
JZZ Technologies, Inc.
Charles Cardona, CEO
DISCLAIMER and FORWARD-LOOKING STATEMENTS
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139193